KPMG brought in by ATH Resources

ATH Resources, the Yorkshire-based mining group, has appointed KPMG to “explore the sale of the company, its business and assets or restructuring options”.

The Doncaster-based company announced the change in adviser to the market after noting recent movement in the company’s share price.

ATH recently warned shareholders a review imposed by the new owner of some of its banking facilities is likely to see their holdings in the company lose value.

KPMG’s appointment follows ATH bringing in Deloitte as an adviser last month.

In a statement, ATH said: “ATH Resources, one of the UK’s largest coal producers, notes the recent price movement and confirms that it has appointed KPMG LLP to explore the sale of the company, its business and assets or restructuring options that may be available to the directors of the group.
 
“It should be noted that this work is at a very early stage and there can be no certainty that a transaction will be entered into or as to the terms of any such transaction, should one be commenced.

“However, the directors believe that in the eventuality that a transaction is undertaken, it is unlikely existing shareholder value will be maintained.”